News

New Zealand votes in ‘City assassin’ as Prime Minister

A multi-millionaire known as "the smiling assassin" during his career as an investment banker in London became New Zealand's prime minister yesterday.

John Key, 47, led his conservative National party to victory in a general election, denying the governing Labour party a fourth term in office. Along with his allies, Key now commands a decisive majority in parliament.

He acquired his nickname after sacking dozens of employees during his time as a director of Merrill Lynch in Australia and Britain in the 1990s.

His centre-right coalition won 65 of the 120 seats in parliament, ejecting Helen Clark, the Labour leader, who had been prime minister for nine years. "Tonight has not been our night," she said, as she conceded defeat.

With an estimated fortune of NZ$50m (£19m), Key has enjoyed a classic rise from rags to riches. He grew up as the son of an impoverished widow in a council